{"id":83934,"date":"2024-07-11T17:59:33","date_gmt":"2024-07-11T21:59:33","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83934"},"modified":"2024-07-11T18:00:13","modified_gmt":"2024-07-11T22:00:13","slug":"alchemy-pay-mastercard-partner-to-combat-fraud","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/alchemy-pay-mastercard-partner-to-combat-fraud\/","title":{"rendered":"Alchemy Pay, Mastercard Partner to Combat Fraud\u00a0"},"content":{"rendered":"\n

Global payments giant Mastercard has partnered with blockchain company Alchemy Pay<\/a> to reduce fraudulent activity and fight identity theft.\u00a0
<\/p>\n\n\n\n

\"Alchemy
Alchemy Pay, Mastercard Partner to Combat Fraud\u00a0<\/figcaption><\/figure>\n\n\n\n

Alchemy Pay, a payment gateway that converts fiat currency\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to cryptocurrency, has partnered with Mastercard to improve customer verification and avoid fraud throughout the application process. <\/p>\n\n\n\n

The Singapore-based cryptocurrency company stated in a blog post on July 11 that it would be able to incorporate Mastercard's sophisticated machine learning account opening solution as a result of the partnership, enabling it to identify and verify “genuine users” while thwarting fraudulent activity.\u00a0Alchemy Pay:<\/p>\n\n\n\n

\n

“In partnership with Mastercard, Alchemy Pay can identify users based on their risk levels and guide them through corresponding workflows.”<\/p>\n<\/blockquote>\n\n\n\n

Alchemy Pay was established in 2017 and now holds licenses as an Authorized Payment Institution in the US, Canada, Lithuania, and Indonesia. The business just obtained a license in the UK, demonstrating its proficiency in cryptocurrency payments<\/a>. <\/p>\n\n\n\n

At a $400 million valuation, market maker DWF Labs invested $10 million in the company in April 2023. Alchemy Pay supports a number of different cards, including Mastercard and Visa. More than 300 payment methods, such as conventional credit cards and mobile wallets, are supported by Alchemy Pay. <\/p>\n\n\n\n

Mastercard collaborated with major American banks to create distributed ledger technology for tokenized financial payments<\/a> at the beginning of May. The Regulated Settlement Network (RSN), a shared ledger system, is being tested as part of this program, which aims to improve cross-border payment efficiency while lowering fraud risks and errors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global payments giant Mastercard has partnered with blockchain company Alchemy Pay to reduce fraudulent activity and fight identity theft.\u00a0 Alchemy Pay, a payment gateway that converts fiat currency to cryptocurrency, has partnered with Mastercard to improve customer verification and avoid fraud throughout the application process. The Singapore-based cryptocurrency company stated in a blog post on […]<\/p>\n","protected":false},"author":43,"featured_media":83935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1940,1135,1560],"class_list":["post-83934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-alchemy-pay","tag-fraud","tag-mastercard"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/croc_1720732696176.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83934"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/83935"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}